Irish People say No More: Mass lawsuits against the banks

The number of Irish people who have had enough of the Banks is growing each week. With the support of the Irish Constitution they realise that they too have options. I went along on Wednesday and met a number of folks from all walks of life, young married couples, business people, employed and unemployed people and the thing that struck me was that there was none of the angst we hear on a daily basis between public/private sector, employed/unemployed people etc.. etc.. it was all walks of life united in one common agreement, that the Banks caused the economic disaster and they should answer for those actions.

So, I along with my group of new friends went along to the Four Courts, into the arena where the Banks are usually comfortable and the common man is most certainly uncomfortable, we completed our individual Summonses paid our fee’s, photocopied our documents, and lodged them with the Court and retired to the Legal Eagle for a well deserved cup of coffee and intelligent discussion on the matters at hand.

This sight is now becoming commonplace on a weekly basis, I believe next Monday morning there will be another group leaving from the Spire in O’Connell Street for the short walk down to the Four Courts, if you would like to join this group, whether you want to file a suit or just want to find out more, go along you will be made very welcome!

3. Many NEW billionaires out there. Redistribution of Wealth UPWARD for decades to make it so

Kessler assumes — and this is the very essence of the “trickle-down” argument — that workers reap the rewards of productivity gains. Believing and asserting that requires either ignorance or willful denial of economic history. The only time in U.S. history when workers substantially benefited from productivity gains was the three decades that followed World War II, when median household income and productivity gains both increased by 102 percent. Not coincidentally, that was also the only period of genuine union power in U.S. history, and the time when the tax code was at its most progressive.

During the past quarter-century, as progressivity was lessened and unions diminished, all productivity gains have gone to the wealthiest 10 percent, according to research published by the National Bureau of Economic Research. In 1955, at the height of union strength, the wealthiest 10 percent received 33 percent of the nation’s personal income. In 2007, they received 50 percent, Economic Policy Institute data show.

If that’s not redistribution, I don’t know what is.

The problem is not just that everyone but the wealthy is claiming a smaller share of the nation’s income; the absolute amount of income they’re getting is declining as well. Median household income has dropped to the levels of the mid-1990s, according to Pew analysis of census data, while the income of the 400 wealthiest Americans rose by a tidy $200 billion last year, according to data released this month by Forbes magazine.